RAKLI-KTI Property Barometer: Prime Office Yields in Lowest Level Ever

Finland Finland — According to the RAKLI-KTI Property Barometer survey, carried out in April, yields for prime office properties in Helsinki CBD stood at 5.2 per cent on average, which is the lowest level ever since the start of the barometer in 1995.

Lidl Acquires Office Property from Ilmarinen

Finland Finland — Pension Insurance Company Ilmarinen has sold an office property located in Niittykumpu, Espoo, to Lidl Suomi Ky. The office has lettable area of approximately 10.000 sqm.

YIT Sells the Lauttasaari Shopping Centre in Helsinki

Finland Finland — YIT sells the Lauttasaari shopping centre, Lauttis, in Helsinki to Aberdeen European Balanced Property Fund. The total value of the agreement is over €40M.

Savills Forms Danish Association

Denmark Denmark — International real estate advisor Savills has extended its European network by forming a new association in Denmark with Nybolig Erhverv.

Balder Acquires a Further 4.8 Percent in Sato

Finland Finland — Swedish listed property company Balder has agreed to acquire a further 4.8 percent in Sato Oyj where Balder already owns 22.8 percent of the shares for approximately EUR 45 million. Balder is, after the acquisition, the largest owner of Sato with a holding of 27.6 percent.
Ulf Nilsson.

D. Carnegie & Co Sells Holdings in Gothenburg

Sweden Sweden — D. Carnegie & Co AB has sold a residential area in Hammarkullen outside of Gothenburg. The property comprises of approximately 890 flats with a total leasable area of 65,000 square metres. The underlying property value is approximately MSEK 500 (€54M).
Martin Tufvesson.

Finnish Property Deal Worth €400M

Finland Finland — Swedish AMF has acquired 50% of a property portfolio in Helsinki worth €400M.

Tapiola Acquires 94 Apartments

Finland Finland — A fund managed by Tapiola Real Estate Asset Management acquires 94 apartments from the Swedish construction company Peab.
BlackRock Acquires Illum in Copnhagen.

Central Group Acquires Illum Department Store in Copenhagen

Denmark Denmark — Thai Central Group has acquired the Illum department store in Copenhagen from BlackRock Europe Property Fund III.

Sirius Acquires Grocery Stores Portfolio from Pohjola

Finland Finland — An affiliate of the Finnish real estate investment manager Sirius Capital Partners (“Sirius”) has acquired three grocery stores for a total investment volume of approximately €7M. The seller is Real Estate Fund Finland I KY (“REFF I KY”), a fund managed by Pohjola Property Management Ltd.
Jonas Ahlblad.

Sirius Acquires Komppi in Ikaalinen

Finland Finland — An affiliate of the Finnish real estate investment manager Sirius Capital Partners ("Sirius") has agreed to acquire retail centre Komppi, located in Ikaalinen in western Finland. Sellers are CastorCon Finland Oy, Veikko Laine Oy, Kehittämisyhtiö Ikaalisten Kylpyläkaupunki Oy and Matti Hiekka Oy.

Obos Purchases for Future Housing Exploitation

Norway Norway — Obos Nye Hjem purchases the Schibsteds print shop property in Oslo. The plan is to on term develop approximately 1,000 homes.
Rickard Svensson Dahlberg.

NREP Secures the Exit of the Largest Nordic Prime Logistics Portfolio to Date

Sweden Sweden — NREP (Nordic Real Estate Partners) has sold the largest portfolio of modern prime logistics properties in the Nordics to a consortium of four Danish pension funds.
Heimstaden köper 129 ägarlägenheter på Havneholmen.

Heimstaden Initiates Danish Venture

Denmark Denmark — Heimstaden takes the step across Öresund and purchases 129 condominiums in Copenhagen.

Catella Establishes Link Prop Investment

Sweden Sweden — After raising capital of some SEK 150 million, Catella is launching property company Link Prop Investment AB, which through its subsidiary has acquired the Idédebatten 3 property in Mjärdevi, Linköping.
Bård Bjølgerud.

Negative Rate Creates Real Estate Rush

Nordic — Nordic institutions aim to be active buyers on the real estate market in the next twelve months, according to a new study by Pangea Property Partners. The cause of this is the extremely low interest rate levels and the expected rise of real estate prices ahead.

NREP Acquires the H30 Office Building in Helsinki

Finland Finland — NREP Nordic Strategies Fund, a fund managed by Nordic Real Estate Partners (NREP), has acquired a modern office building in Pitäjänmäki, Helsinki.

CSM Approval of the BROEN Shopping Centre - Sale Completed

Denmark Denmark — TK Development has obtained a CSM approval of the BROEN shopping centre in Esbjerg, Denmark. Accordingly, the conditional agreement to sell 65 % of the project to CapMan Real Estate will become unconditional. Construction has started, and the centre is expected to be completed in spring 2017.

Newsec Receives Large Management Assignment

Sweden Sweden — American Starwood purchased Sveareal in January, owning properties in Sweden at a total value of approximately SEK 7 billion (€0,75 billion). Newsec has now been assigned management of the portfolio.

Danish Sampension Aims for Large Property Increase

Denmark Denmark — The Danish pension fund Sampension aim towards increasing their real estate exposure with eleven percent, corresponding to €640M.

Rikshem Purchases Public Utility Company

Sweden Sweden — Rikshem purchases Bo i Väsby AB from Upplands Väsby municipality for a total of MSEK 720 (€77M). The deal encompasses a total leasable area of approximately 44,000 sqm.
Pål Ahlsén.

Akelius in New USA Deal - Purchases For €150M

Sweden Sweden — Swedish company Akelius purchases 196 apartments on Manhattan, US. The price tag is €150M.

Sale and Leaseback Deal Worth €652M in Finland and Sweden

Finland Finland — Retail group Kesko, the Finnish Pension Insurance Company Ilmarinen and the Swedish pension insurance company AMF Pensionsförsäkring has created a joint venture that will own, manage and develop store sites primarily used by Kesko Group.

CapMan Real Estate Acquires in Central Copenhagen

Denmark Denmark — The CapMan Nordic Real Estate fund has acquired a mixed-use property (Vesterbrogade 80) with an excellent location at the intersection of Frederiksbergs Alle, Vesterbrogade and Vaernedamsvej, which are all well-known high streets in the centre of Copenhagen.

Another Swedish Company Aims for Stock Market

Sweden Sweden — The stock market scramble among Swedish real estate companies continues. Most recently the housing developers Magnolia Bostad, with sights set on a listing this summer.